Oh, how I shudder when I recall the days of doing taxes without e-file. Once again, the IRS reports a record number of Americans have filed their federal tax returns using their home computers. “As of March 6, more than 18 million income tax returns were filed from home computers, up 20 percent compared to the same time last year,” said the IRS.
Of the 63.8 million tax forms received so far, the IRS reports that more than 51.7 million have been submitted using e-file. Of those 33.3 million returns had been submitted by tax preparation companies, and 18.4 million by individuals using their home computers.
About 91 percent of the tax returns received so far have resulted in refunds, the IRS reports. “This percentage however is usually at its highest at the start of the filing season because taxpayers expecting refunds usually file earlier than taxpayer who must make a payment.” The average refund has been $2,811 this year, compared to $2,576 at the same time last year. This year’s refunds to taxpayers have totaled over $153.6 billion so far.
Also See:Obama’s Stimulus Package and Taxes
Relieving Tax Stress
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